Published 10:01 am, Tuesday, July 5, 2016

NEW YORK (AP) — U.S. stocks are falling in afternoon trading as investors worry about the British financial system. The Dow fell 134 points to 17,815 as of 1:25 p.m. Eastern time. The S&P slipped 18 points to 2,084. And the Nasdaq lost 53 points to 4,809. Investors continue to buy bonds, pushing the yields on long-term U.S. government bonds to all-time lows. Energy companies are sinking with the price of oil.

LONDON (AP) — The British pound has dropped to a 31-year low on concerns that the country's decision to leave the EU will hurt commercial real estate values and the wider economy. Markets were jittery after three financial firms stopped trading in their respective U.K. commercial property funds after a rapid increase in investors trying to sell their holdings. Meantime, the country's Conservative party is holding its first round of voting to whittle down the field of candidates hoping to replace Prime Minister David Cameron. Cameron announced his intention to resign after losing the vote on EU membership.

BRUSSELS (AP) — McDonald's has won a case in a European court that could prevent another company from using any combination of the terms "Mac" or "Mc" to sell food or drinks. The ruling came after the fast-food giant tried to stop Singapore's Future Enterprises from registering MACCOFFEE as a European Union trade mark. A court says the use of MACCOFFEE would take unfair advantage of the reputation of McDonald's trademarks.

WATERLOO, Ontario (AP) — BlackBerry says it will stop making its Classic smartphone, less than two years after launching it with much fanfare. Ralph Pini, the company's chief operating officer and general manager for devices, says the Classic has long surpassed the average lifespan for a smartphone in today's market. He says BlackBerry will now focus on updating its smartphone lineup.

NEW YORK (AP) — New York police say Chipotle executive Mark Crumpacker has been arrested for cocaine possession. Chipotle said last night that it had placed Crumpacker on administrative leave following a New York Daily News report that he was among 18 customers of a cocaine ring named in an indictment by the Manhattan District Attorney's Office. Crumpacker had been leading Chipotle's marketing efforts to recover from an E. coli outbreak that sent sales plummeting.